China’s Financial Innovation

2021 ◽  
pp. 609-624
Author(s):  
Liqing Zhang
Keyword(s):  
Financial Services ◽  
Financial Stability ◽  
Financial Innovation ◽  
Social Equality ◽  
The Past ◽  
Regulatory Frameworks ◽  
Rapid Economic Growth ◽  
Modern Information ◽  
The Government ◽  
Government Corporations

Substantial innovations have happened in China’s financial sector over the past four decades, ranging from the significant increase of institutions, changes of market structure, and development of products to the improvement of regulatory frameworks. These changes and innovations reflect China’s transition from a centrally planned economy to a modern market economy; persistent demand of various financial services derived from the government, corporations, and individuals in a period of rapid economic growth; and alternatively occurring regulation and deregulation by the authorities. The unprecedentedly advanced progress of technology, especially the emergence of modern information revolutions, makes all these changes and innovations possible. Financial innovation has made profound impacts on China’s economic efficiency, financial stability, and social equality, among them some quite positive and some relatively negative.

Effectiveness of Financial Inclusion Initiatives

2018 ◽  
pp. 48-65
Author(s):  
K. Sanal Nair ◽  
Saumya Jain
Keyword(s):  
Research Methodology ◽  
Financial Services ◽  
Credit Card ◽  
Financial Inclusion ◽  
Descriptive Statistics ◽  
Mobile Banking ◽  
Indian Government ◽  
The Past ◽  
The Government ◽  
One Way Anova

An inclusive financial system has been the major agenda of the Indian government over the past few years and several steps have been taken in this direction. The main purpose of the study is to assess the effectiveness of financial inclusion initiatives taken by Rajasthan government. A questionnaire was drafted and was sent to people from weaker section of the society who have been the beneficiaries of the financial inclusion initiative of the government. Research methodology adopted for the study includes descriptive statistics and one-way ANOVA was used to test the association/non-association between the variables. The study concluded towards lack of awareness and usage of financial inclusion initiatives, especially internet, mobile banking, and credit card. In terms of experience with financial services, respondents were positive towards interest on loans and help received by banking staff with respect to documentation and identification norms as well as branch timings. However, distance from the bank and the availability of ATM was an issue for them.

scholarly journals Drivers’ Growth of Islamic Banking Industry: Lesson from Malaysia

2014 ◽  
Vol 1 (4) ◽  
pp. 122-128
Author(s):  
Yagoub Elryah
Keyword(s):  
Financial Services ◽  
Financial Stability ◽  
Banking Industry ◽  
Foreign Banks ◽  
Islamic Banking ◽  
Master Plan ◽  
Policy Makers ◽  
Innovative Products ◽  
The Government

Numerous studies focus on the Islamic banking performance, banks’ growth. There are, however, very little is known about the drivers’ growth of Islamic banking. The paper attempted to fill this gap. To achieve the objectives of the study, we consider government financial strategies for Islamic banking in Malaysia (Master Plan financial services 2000-2010 and Blueprint financial sector plan 2011-2020) and interviews the policy makers and regulators from BNM and selected banks. In this context, we explored the drivers’ growth Islamic banking industry in Malaysia for the period 2002-2012. The findings of the study revealed that the government strategies, high skilled banker’s human resources, financial stability, foreign banks, innovative products, awareness of the customers and quality of the financial and regulatory reforms were main drivers’ growth of Islamic banking in Malaysia. DOI: http://dx.doi.org/10.3126/ijssm.v1i4.10626 Int. J. Soc. Sci. Manage. Vol-1, issue-4: 122-128 

scholarly journals FINANCIAL INCLUSION: A PRELUDE TO ECONOMIC STATUS OF VULNERABLE GROUP

2016 ◽  
Vol 4 (12) ◽  
pp. 147-154
Author(s):  
Mukesh Kumar Sharma
Keyword(s):  
Low Income ◽  
Rural Areas ◽  
Financial Services ◽  
Financial Stability ◽  
Financial Inclusion ◽  
Current Status ◽  
Easy Access ◽  
Resource Base ◽  
Banking Services ◽  
The Government

India is a country where a sizeable amount of population lives in rural areas. They are engaged in agriculture and allied activities. Most of the people living in rural areas are poor. They do not have any access to the banks. The awareness and access of the poor to the banking services is important for the alleviation of the poverty. Their access to the banking services will contribute a lot to the growth and development of our country’s economy. Financial inclusion is a great weapon to overcome the financial backwardness as well as the establishment of good governance.It broadens the resource base of the financial system by developing a culture of savings among large segment of rural population, disadvantaged group and plays an essential role in the process of economic development. The Government of India and the Reserve Bank of India (RBI) have been making concentrated efforts periodically to overcome such vicious problems by promoting Financial Inclusion, being one of the important national objectives of the country. Since first phase of nationalization (1969) GoI continuously promoting financial inclusion through self-help groups, no frills account, simplification of KYC, Business correspondents etc., but no palpable effect could be seen in the plight of these financially vulnerable people. To mitigate this long drawn financial sufferings, Prime Minister Narendra Modi announced a new scheme in his Independence Day speech on 15th Aug 2014 called Pradhan Mantri Jan DhanYojana (PMJDY). Mission of PMJDY is to ensure easy access of financial services for the excluded section i.e. weaker section and the low income group. This effort will certainly go a long way in promoting economic growth and reducing poverty, while mitigating systematic risk and maintaining financial stability. This article focuses on the RBI, GoI initiatives, current status and future prospects of financial inclusion in India on the basis of facts and data provided by various secondary sources. It is concluded that financial inclusion shows positive and valuable changes.

scholarly journals Peru

2020 ◽  
Vol 20 (181) ◽  
Author(s):  
Keyword(s):  
Financial Stability ◽  
Inflation Targeting ◽  
Emerging Market ◽  
Turn Of The Century ◽  
Policy Framework ◽  
Macroeconomic Performance ◽  
The Past ◽  
Fiscal Management ◽  
Low Levels ◽  
The Government

Peru’s very strong policy framework has helped it achieve impressive macroeconomic outcomes and reduce vulnerabilities. Growth has been particularly robust, averaging nearly 5¼ percent over the past 15 years, consistently above the average for the LAC region, while the inflation targeting regime has helped keep inflation low and expectations well anchored. Prudent fiscal management has reduced government debt to very low levels. Very strong financial sector regulation and supervision have contributed to preserving financial stability. External vulnerabilities have been reduced and poverty has been cut by more than half since the turn of the century. In recent years, macroeconomic performance has been adversely affected by a combination of external, domestic, and weather-related shocks that have slowed Peru’s growth momentum. Against this background, the Covid-19 pandemic has posed an unprecedented challenge, which is pushing the economy into a recession. Peru has to date shown remarkable financial resilience when compared to other emerging market economies, both within and outside the region, not least because large buffers have allowed the government to respond with a very strong policy package to contain the pandemic and mitigate the economic fallout.

Islamic Banking in Indonesia

2020 ◽  
pp. 38-60
Author(s):  
M. Luthfi Hamidi ◽  
Andrew C. Worthington
Keyword(s):  
Central Bank ◽  
Financial Services ◽  
Banking Sector ◽  
Islamic Banking ◽  
Credit Allocation ◽  
Banking Services ◽  
The Past ◽  
The Government ◽  
Market Pressures

The Indonesian banking sector has been stable and generally sound over the past decade, partly through efforts by the Bank of Indonesia as Indonesia's central bank and Otoritas Jasa Keuangan as its financial services regulator. This chapter identifies important issues that remain for both conventional and Islamic banking in Indonesia. Authors suggest the government continue its efforts to reform what remains a geographically concentrated industry, to increase the role of bank credit in the economy, and to widen the provision of banking services through technology. Authors highlight the vulnerability of smaller banks in Indonesia to ongoing competitive market pressures and the necessity of creating larger banks through merger or capital raising and improving credit allocation to small and medium-sized businesses. Islamic banking has an important role to play in these developments, and those relating to Islamic social banking.

scholarly journals Crisis management in public institutions

2021 ◽  
Vol 26 (Special Issue) ◽  
pp. 1-16
Author(s):  
Ante Žigman ◽  
Tomislav Ridzak ◽  
Mirna Dumičić Jemrić
Keyword(s):  
Crisis Management ◽  
Financial Services ◽  
Financial Stability ◽  
Stock Exchange ◽  
Public Institutions ◽  
Government Agencies ◽  
Domestic Institutions ◽  
National Bank ◽  
The Government ◽  
Systemic Crises

Crisis management in the context of public institutions is particularly important, due to the extremely large possible impact of the consequences of systemic crises on society as a whole. Suboptimal or too slow decisions of public institutions usually affect a much wider set of people, entities, and economic and financial developments than when it comes to crisis management in individual companies, even if they are systemically important. This paper focuses on the activities of the Croatian National Bank and the Croatian Financial Services Supervisory Agency in dealing with the crisis caused by the coronavirus pandemic and presents the most important activities of the government, government agencies, and commercial banks that have had an impact on financial stability. The analytical part of the paper presents the effect of trading suspension on the Zagreb Stock Exchange on 12th March 2020 and its implications on the market. Although it is still too early to make final assessments, given the course of the pandemic, the available data suggest that the activities of domestic institutions have so far been effective in maintaining financial stability in Croatia.

scholarly journals Peran Pemerintah Dalam Mitigasi Kejahatan Pasar Modal

2019 ◽  
Vol 2 (1) ◽  
Author(s):  
Bartolomeus Diaz Sianipar
Keyword(s):  
Law Enforcement ◽  
Capital Market ◽  
Financial Services ◽  
Role Of Government ◽  
Library Research ◽  
Rapid Economic Growth ◽  
The Government ◽  
And Performance ◽  
The Capital Market

AbstrakSaat ini perkembangan ekonomi berjalan sangat pesat namun, ditengah pesatnya pertumbuhan ekonomi terdapat juga ketidakstabilan ekonomi yang kemudian memberikan peluang kepada pihak-pihak yang berkaitan dengan kegiatan pasar modal untuk melakukan kejahatan pasar modal. Banyaknya kejahatan yang terjadi dalam kegiatan pasar modal sejak tahun 2009 sampai tahun 2017 tentunyamenimbulkan banyak spekulasi tentang wewenang dari badan OJK yang bertanggung jawab dalam pengawasan pasar modalsehingga ini menjadi permasalahan dalam penelitian ini. Permasalahannya adalah bagaimana peran pemerintah dalam mitigasi kejahatan pasar modal Indonesia.Penelitian ini dilakukan terhadap kebijakan dan kinerja Otoritas Jasa Keuangan (OJK). Jenis penelitian yang digunakan dalam penulisan ini adalah yuridis normative. Metode pendekatan yang digunakan dalam penelitian ini library research, dengan sumber bahan hukum sekunder. Sanksi terhadap kejahatan pasar modal tercantum dalam UUPM bahwa kejahatan dalam pasar modal dapat dituntut secara perdata berupa sanksi atas perbuatan melawan hukum, serta dapat juga dituntut secara pidana. Namun oleh lembaga regulator pasar modal, yaitu OJK cenderung ke arah ganti rugi atau denda/sanksi administratif. Dengan maraknya kejadian kejahatan pasar modal, Sangat diharapkan kepada OJK untuk dapat membuat regulator yang mengikuti perkembangan dengan keadaan dan kondisi yang terdapat dalam penegakan hukum pasar modal sehingga, dapat meminimalisir kejahatan dalam pasar modal serta tidak membuat investor baik nasional maupun asing takut untuk turut andil dalam pasar modal di Indonesia.Kata Kunci: Peran Pemerintah, Mitigasi, Kejahatan, Pasar Modal. AbstractAt present the economic development is running very rapidly but, In a middle of the rapid economic growth there is also economic instability which then provides opportunities for parties related to capital market activities to commit capital market crimes. The large number of crimes that have occurred in capital market activities from 2009 to 2017 has caused a lot of speculation about the authority of the OJK agency responsible for modest market supervision so that this becomes a problem in this research. The problem is how the government plays a role in mitigating Indonesia's capital market crime. This study was conducted on the policies and performance of the Financial Services Authority (OJK). The type of research used in this writing is normative juridical. The method of approach used in this study is the research library, with a source of secondary legal material. Sanctions for capital market crimes are stated in the Capital Market Law that crime in the capital market can be prosecuted in the form of sanctions for acts against the law, and can also be prosecuted criminal. However, by the capital market regulator, the OJK tends towards compensation or fines/administrative sanctions.With capital market events, it is desirable for OJK to be able to make regulators that follow developments and conditions needed in capital market law enforcement, can minimize crime in the capital market and It also does not make investors both national and foreign afraid to take part in the capital market in Indonesia.Keywords: Role of Government, Mitigation, Crime, Capital Market.

scholarly journals Bolivia Hoy: Rupturas, inercias y desafios

2011 ◽  
Vol 18 ◽  
pp. 23-48 ◽  
Author(s):  
Pablo Stefanoni
Keyword(s):  
Political History ◽  
The Political ◽  
The Novel ◽  
Social Equality ◽  
The Past ◽  
Constituent Assembly ◽  
The Social ◽  
The Government ◽  
Vague Objective ◽  
The Way

The arrival of Evo Morales to power in January of 2006 –supported with an unprecedent 54% of the votes– marked a milestone in Bolivian political history and opened the way to an ambitious project of re-foundation of the country. Those events were translated in the call for a Constituent Assembly and in the nationalization of hydrocarbons, within the framework of a strong “ruralización de la política”. More than five years of that one triumph has passed and after a re-election with 64% of the votes in December 2009 that consolidated the “evista” hegemonyhas declined.  Now the government faces a series of challenges tied to the effective materialization of the change proposed in the re-foundational speeches. This article analyses the novel experience of “Indians in the power” centered in the tension between the changes implemented and the inertias of the past in spheres such as the democratic radicalization, the social equality, the model of development, and the political project. All these themes affected by a powerful, and yet somehow vague objective: the decolonization of the country.La llegada de Evo Morales al poder en enero de 2006 ―avalado con un inédito 54% de los votos― marcó un punto de inflexión en la historia política boliviana y abrió paso a un ambicioso proyecto de refundación del país. Esos ejes se tradujeron en la convocatoria a una Asamblea Constituyente y en la nacionalización de los hidrocarburos, en el marco de una fuerte “ruralización de la política”.  A más de cinco años de aquel triunfo y luego de una reelección con el 64% en diciembre de 2009 que consolidó la hegemonía “evista”, el gobierno enfrenta una serie de retos vinculados a la materialización efectiva del cambio propuesto en los discursos refundacionales. En este artículo se analiza esta experiencia novedosa de “los indios en el poder” centrada en la tensión entre los cambios operados y las inercias del pasado en esferas como la radicalización democrática, la igualdad social, el modelo de desarrollo y el proyecto político. Temas todos ellos atravesados por un objetivo tan poderoso como por momentos impreciso: la descolonización del país.

The Systemic Effects of Prudential Regulation Toughening:The Results of a Stress-test for Russian Banks

2012 ◽  
pp. 4-31 ◽  
Author(s):  
M. Mamonov ◽  
A. Pestova ◽  
O. Solntsev
Keyword(s):  
Financial Services ◽  
Banking Sector ◽  
Stress Test ◽  
Credit Market ◽  
Capital Adequacy ◽  
Government Support ◽  
Government Ownership ◽  
Prudential Regulation ◽  
The Government ◽  
The Stability

The stability of Russian banking sector is threatened by three negative tendencies - overheating of the credit market, significant decrease of banks capital adequacy ratios, and growing problems associated with banks lending to affiliated non-financial corporations. The co-existence of these processes reflects the crisis of the model of private investments in Russian banking sector, which was observed during the last 20 years. This paper analyzes the measures of the Bank of Russia undertaken to maintain the stability of the banking sector using the methodology of credit risk stress-testing. Based on this methodology we conclude that the Bank of Russias actions can prevent the overheating of the credit market, but they can also lead to undesirable effects: further expansion of the government ownership in Russian banking sector and substitution of domestic credit supply by cross-border corporate borrowings. The later weakens the competitive positions of Russian banks. We propose a set of measures to harmonize the prudential regulation of banks. Our suggestions rely on design and further implementation of the programs aimed at developing new markets for financial services provided by Russian banks to their corporate and retail customers. The estimated effects of proposed policy measures are both the increase in profitability and capitalization of Russian banks and the decrease of banks demand for government support.

E-Projects Challenges in India – Role of Human Resource Management and Technology

2018 ◽  
Vol 6 (8) ◽  
pp. 263
Author(s):  
Ramnik Kaur
Keyword(s):  
Developing Countries ◽  
Public Administration ◽  
Paradigm Shift ◽  
Successful Implementation ◽  
The Public ◽  
Government Services ◽  
The Past ◽  
The Government ◽  
Traditional Approaches

E-governance is a paradigm shift over the traditional approaches in Public Administration which means rendering of government services and information to the public by using electronic means. In the past decades, service quality and responsiveness of the government towards the citizens were least important but with the approach of E-Government the government activities are now well dealt. This paper withdraws experiences from various studies from different countries and projects facing similar challenges which need to be consigned for the successful implementation of e-governance projects. Developing countries like India face poverty and illiteracy as a major obstacle in any form of development which makes it difficult for its government to provide e-services to its people conveniently and fast. It also suggests few suggestions to cope up with the challenges faced while implementing e-projects in India.

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